French luxury conglomerate with cash to burn and cigars that won’t light themselves, LVMH Moet Hennesy Louis Vuitton, are reportedly about to close a deal which would see them purchase a 55% majority stake in mainstay Australian outfitters R.M. Williams, makers of paternally-favoured footwear since ’32.
According to yet to be confirmed reports in News Limited papers, the luxe giant have backed a Singapore-based private equity firm L Capital to handle the takeover of the octogenarian boot-makers, with the intention of later injecting $50 million into the company. Reginald Murray Williams: The Bush Outfitter was last month put up for sale with the aim to assess “external commercial growth and expansion plans.”
News Limited chief executive, friend of the label’s namesake founder and current owner of the company Ken Cowley is expected to retain the remaining balance in the company. An R.M. Williams spokeswoman said yesterday – tellingly, helpfully – that “We don’t have any announcement to make at this stage.”
Earlier this week, design wünderkind Dion Lee showed custom black R.M. Williams boots alongside his SS13/14 ‘Windmap‘ collection at the Sydney Opera House; prior to that my colleague Suz wore her trusty decade old RM’s to FASHAN Week. Both were chic situations.
As they say in the industry, as in life: three’s a trend. R.M. Williams are officially having a #moment.
via The Australian
Photo: via RM William’s Facebook, Lucas Dawson via Getty
